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Re: SEC accuses Goldman Sachs of civil fraud

Originally Posted by Erod

Note that Lehman, which had numerous Obama supporters within its leadership (including Steven Rattner, who was originally going to be the "car czar") seems to be escaping their culpability, much like Fannie and Freddie.

Yet the GOP is linking Obama to Goldman. So how does that fit into you view.

Boehner's office also pointed to Goldman employees having collectively contributed more than almost any other company or institution to Obama during the presidential campaign.

Re: SEC accuses Goldman Sachs of civil fraud

Goldman of course denies any wrongdoing. So, this goes somewhat over my head, but I find the topic interesting. Does the government have a solid case here?

Far more facts would be needed to address your point. However, Goldman gave Obama lots and lots of money. This is interesting. The bonuses that place paid its people a few years ago was well-rather hyperbolic to many.

a girl i went to college, and later law school with earned an MBA and a JD and went to work for GS. I ran into her at our 25th college reunion (she had married a guy from our lawschool and they had two under 11 year old kids).

While most of us were dressed casually she was in a a suit heels etc because she noted she might have to catch the train back to NYC in a moment's notice.

Goldman Sachs Defrauded Investors, SEC Charges

The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was collapsing.

The Securities and Exchange Commission said in a civil complaint Friday that Goldman failed to disclose that one of its clients helped create - and then bet against - subprime mortgage securities that Goldman sold to other investors.

The SEC said the fraud, a blow to the reputation of Wall Street's most powerful firm, was orchestrated in 2007 by a Goldman vice president then in his late 20's. The employee, Fabrice Tourre, has since been promoted to executive director of Goldman Sachs International in London.

Notice that, if someone works for a bankster, and commits fraud, he is promoted. That should tell you a lot about banksters.

Re: SEC accuses Goldman Sachs of civil fraud

Originally Posted by Erod

Note that Lehman, which had numerous Obama supporters within its leadership (including Steven Rattner, who was originally going to be the "car czar") seems to be escaping their culpability, much like Fannie and Freddie.

Goldman vigorously denied the Securities and Exchange Commission's civil charges, setting up the biggest clash between Wall Street and regulators since junk-bond king Drexel Burnham Lambert succumbed to a criminal insider-trading investigation in the 1980s, helping to define the era. …

“Real environmentalists live in cities, and they visit what's left of the wilderness as gently and respectfully as possible.” — Donna Moulton, letter to the editor, Tucson Weekly, published on August 23, 2001